After losing my job 5 months ago (which paid VERY well), and just now starting a new job (which doesn't pay quite as much), the payments on both my vehicles really became too much to bear. I still owed just over $33,000 (at 7.00%) on my 2000 4Runner and my 1997 Mustang Cobra.

I talked to a dealer who is a friend of the family, and he found me a 2001 Tacoma 4x4 (Ext. Cab, SR5, V6, 5spd, TRD package), and made me an offer I couldn't refuse. I figured that I was upside-down by about $4500-5000 on my loan. He allowed $31000 in trade-in, I put another $2000 down to get a good interest rate (4.05% on 60-months), and gave me a good deal on the truck. I wound up financing just a little less than $20,000 and cut my payment in half. My insurance almost dropped by half as well.

Basically, I've got a great truck and I'm saving about $550 a month. I'll probably be posting a lot on here now, so I just wanted to let everyone know about my change. I'll try to snap a couple of quick pics when I get in from work. If not today, then this weekend for sure...

 

That sucks you had to trade in your 4Runner. But at least you stayed with Toyota!

 

Jtrent, don't feel bad dude I am an ex-systems engineer for WorldCom. I feel your pain man, one minute your are designing west coast amp chains the next thing your are selling parts at a dealership. However this forum makes things go a little smoother for me during the day. Glad to hear you could recover and better your situation, there are thousands out there that can't.

Todd

 

TOR:

Yeah, I was very fortunate to land a good job less than four months after getting laid off. A lot of people in the IT industry have been out of work for over a year and still haven't found anything. I know how lucky I am...

 

Yep I know what you mean, IT was my first background but Telecom was paying better. Two words BAD MOVE! By the time the walls came tumbling down everyone had tried to retreat back to IT and the market was flooded. I contracted for about a year and half and finally needed something with benefits. Here I am 25k less a year but I am still holding. I figure my wife is able to stay home with kids I work with guys I have drank beer with for almost 10 years now, hey it could be so much worse. Plus I get to hang out on this forum and get PAID for it! Ha, funny how life works itself out.

Todd

 

I don't think it was a bad move at all....you just maxed out the money and were forced to move on. You did well to find another job (even at 25k less) and are probably less stressed / working less hours than you were in the telecom stuff. Life is always fair even if it doesn't seem like it at the time. If you remember there are no free lunches you will do quite well at the game. I am happy to hear all have found work after their layoff.

I am not sure what to make of the economy right now but I do think the back to basics approach will be the best one to find work. These are areas like commodities, health, food, shelter, or any other basic human necessity (and typically smaller businesses do well because they are usually already downsized by definition) . Areas that ould continue to suffer are the high tech, entertainment, and luxury goods sectors. Only my $0.02 tho.

 

Jtrent

Man I'm sorry to hear that you lost your job and ultimately took a pay cut once finding work. I sometimes wonder what the politians are thinking when they say the economy is getting better. They really are out of touch with the real people. Glad you were fast on your feet and made the right moves to improve your financial health, and to top it off, you still got a great Toyota truck.

Best of luck to you!

 

Managed to snap a couple of quick pics this morning of my new truck. More to follow if anyone is interested...

 

That's a great looking truck, especially for an '01. Looks like its never been off road. Sorry to hear about the 4Runner, but this will be as much fun if not more so!


Hey, that sucks about losing the job but I know what you mean. The only reason I still have a job in IT is b/c I work for the government and have security clearances, so that's where the money is right now. I don't know how much longer I'm going to stick with it b/c I'm burning out on IT stuff and would like to do more things in the car biz again. Did it down in Florida for approx 8 years and loved it, but changed to try something new. Now I'm thinking of going back, so its funny how life goes full circle sometimes.

 

rwmorrisonjr: Yeah, I wish I had a security clearance, but they're damn near impossible to get in the civillian sector. There truly are a TON of jobs out there for those with them...

 

I know, the wife and I discussed it last night (Warning: thread hijack approaching!). I have one job in the works doing just that, adn once I'm in with this one other doors will open up, so I'm going to push forward with that and see what happens, especially when I start making contacts on the inside. I also know about the difficulty in getting mine, it took me two years through the Navy to get it, but I'm glad I was patient about it, b/c its going to pay off soon.

 

Jtrent, sorry to hear about losing the 4Runner. I may or may not be in the same boat. I work for HP, which contracts my services to the Los Alamos National Lab. However, due to budget contstraints, the group I was providing a service for stated they could no longer afford HP. So, here I sit, waiting for my HP boss to find another position. It has been a little unsettling having no work. I'm training right now on the HP tab, but I don't know how long that will last. However, letting the 4Runner go is something that may have to happen, hopefully not.:pat: I hope my boss can find some work for me, or I'll go elsewhere.

 

Nice Tacoma, Jeff. What size is the box in that? 6.5 feet? Sometimes I wish I had a truck w/a bed instead of an SUV, especially lately with all the moving I've been doing. I don't think that's a bad trade at all.

 

My in-laws live in Carrollton out Bonner Gold Mine. Looks like a lot of places to wheel there, but I haven't done much exploring. I'm there at least once a month. Let me know if you find any good places to wheel.

 

Unfortunately the best place within 50 miles was taken over by the county water authority and was made into a reservoir. No more wheeling out there unless you've got an amphibious assault vehicle...

Let me know next time you're gonna be down this way, and we'll find something. I've been looking for an excuse to break the Tacoma in